News: Property moguls top Singapore’s richest: Forbes

Mar 6, 2019

Real estate tycoons Robert and Philip Ng who control Far East Organization lead the field with a net worth of US$12 billion.

A total of 22 Singaporeans made it to Forbes magazine’s list of billionaires for 2019, with real estate tycoons Robert and Philip Ng taking the lead with a net worth of US$12 billion, reported the Straits Times.

Taking the 112th spot, the Ng siblings control Far East Organization – the biggest private landlord and property developer in Singapore.

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Paint tycoon Goh Cheng Liang followed in 203rd place with US$7.2 billion, while hotpot chain Haidilao’s founder Zhang Yong came in next at 224th with US$6.8 billion.

Forbes revealed that the Asia-Pacific region boasts the most billionaires, with 767, followed by the United States and Europe with 607 and 545 billionaires respectively.

Mukesh Ambani of India is the richest man in Asia. Ranked at 13th, he built his US$50 billion fortune from refining petrochemicals and in the oil and gas sectors.

China saw the most newcomers with 44, but also the most drop-offs with 102, said Forbes.

Meanwhile, Amazon CEO Jeff Bezos remains the world’s richest for the second consecutive year, with a US$131 billion fortune, up by US$19 billion from the previous year.

Microsoft co-founder Bill Gates settled in second place with a fortune of US$96.5 billion, while United States billionaire investor Warren Buffett came in third with US$82.5 billion.

One of the most notable first-timers on the list is 21-year old Kylie Jenner, who emerged as the youngest billionaire in the world. Forbes magazine also named her as the youngest self-made billionaire of all time.